Risk professionals in the communications, media, and technology (CMT) industries are facing increasingly complex risks related to shifts in customer demands, changes in regulations and industry consolidation, according to the "2017 Communications, Media and Technology Risk Study," from New York-based broker Marsh.
A survey of 120 CMT risk professionals was conducted by Marsh to inform the study findings. Among respondents, 88 percent say their company's risk will become more complex and/or greater in scale in the next few years.
Lawsuits, new technologies, increased regulations, business decisions, cyberattacks, and competition were some of the key drivers of change for CMT companies in 2016.
|Protecting the bottom line
"The fast pace of innovation that defines communications, media, and technology companies brings a host of risks related to everything from shifts in customer demands to changes in regulations to industry consolidation," said Tom Quigley, Marsh's U.S. Communications, Media, and Technology Practice leader. "By using the right risk assessment tools, data, analytics, and insights, CMT risk professionals are best positioned to manage these risks and protect their companies' bottom lines."
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
